Services in general

An actuary /aktʃʊ(ə)ri/ is a business professional who deals with the measurement and management of risk and uncertainty.
Our finance and actuarial team has been providing its services since 2006 to several European countries. We started with supporting the United Kingdom, the Netherland and Switzerland first and today this list has grown to include countries such as: Germany, Austria, France, Belgium, CEE countries. Over the years we built a team of specialists who strive to provide excellent quality work in the following areas.
Accounting

Accounting valuations and reporting

Accounting valuations and reporting according to international accounting standards (IAS19R, US GAAP/ASC715) are prepared for occupational pension funds run by our multinational clients. These valuations are required to be done every financial year so that retirement liabilities are quantified in the companies’ balance sheets by applying a best estimate approach.
Data management

We validate membership data of pension funds and analyse changes from year to year.

Calculation and reporting

Using different softwares and Excel models we calculate the liability of the pension funds, analyse the impact of financial and demographic factors and prepare reports for our clients.

Assumption setting

We are involved in setting financial and demographic assumptions for the future e.g. interest rate, salary increases, and mortality rates.

Consolidation

For multinational clients who operate globally we consolidate accounting disclosures.


Platform-changes

Platform changes

Platform changes cover migration of data and valuation parameters between different systems. We have expertise in several valuation software and we provide help to different retirement teams at Aon who are aiming to move their actuarial calculations to a new platform. Migration projects can take from several months to a few years.

Business-technology-development

Business technology development

Business technology development is a growing business line in our team. Our programmers and tool developers help design and implement global retirement management solutions to clients. They have insight into the activities of several teams and try to build links between them. This group is also working on making our internal processes and tools more efficient.

International-project-work

International project work

International project work is something our team gets involved in from time to time. Projects mainly concern the Retirement & Investment business of Aon and can come from different places globally. We worked on projects with most countries in Europe but also with the USA, India or Japan.

pension-projects

Pension projects and feasibility studies

Pension projects and feasibility studies are expected to become more popular services due to the challenges employers are facing on the labour market. A pension programme can be an excellent tool to support employer branding, helps recruitment and retention. While employer sponsored retirement funds are not common in Hungary, Aon offers local and European solutions to pioneer companies. For more information please send an e-mail to janka.katanics@aon.com